--- title: "Hang Seng TECH surged over 3%, Meituan rose over 5%, while the \"dual giants of large models\" KNOWLEDGE ATLAS and MINIMAX showed significant pullbacks" description: "In terms of sectors, leading technology stocks, semiconductors, non-ferrous metals, and new energy vehicle stocks performed well, with Zijin Mining, Meituan, and SMIC rising over 5%; large model conce" type: "news" locale: "en" url: "https://longbridge.com/en/news/276579231.md" published_at: "2026-02-23T01:21:32.000Z" --- # Hang Seng TECH surged over 3%, Meituan rose over 5%, while the "dual giants of large models" KNOWLEDGE ATLAS and MINIMAX showed significant pullbacks > In terms of sectors, leading technology stocks, semiconductors, non-ferrous metals, and new energy vehicle stocks performed well, with Zijin Mining, Meituan, and SMIC rising over 5%; large model concept stocks retreated, with KNOWLEDGE ATLAS falling nearly 23% and MINIMAX dropping over 13% On February 23, the Hang Seng Index and the Hang Seng TECH Index experienced strong fluctuations throughout the day, with the Hang Seng Index closing up 2.53% and the Hang Seng TECH Index closing up 3.34%. In terms of sectors, leading technology stocks, semiconductors, non-ferrous metals, and new energy vehicle stocks performed well, with Zijin Mining, Meituan, and SMIC rising over 5%; large model concept stocks fell back, with KNOWLEDGE ATLAS down nearly 23% and MINIMAX down over 13%. Among the constituent stocks of the Hang Seng Index, Zijin Mining, Meituan, and SMIC rose over 5%, while Shenzhou International and BYD rose over 4%, and Li Ning, Li Auto, JD.com, and Alibaba rose over 3%. Among the constituent stocks of the Hang Seng TECH Index, Nio, Meituan, and SMIC rose over 5%, while BYD Company and Hua Hong Semiconductor rose over 4%, and JD.com, Tencent, Alibaba, Xiaomi, and Baidu rose over 3%. In the gold stocks sector, China Gold International rose over 6%, Zijin Mining rose over 5%, Shandong Gold rose over 4%, and Laopu Gold rose nearly 3%. In terms of news, spot and futures prices for gold and silver surged, with gold prices surpassing $5,100. KNOWLEDGE ATLAS and MINIMAX clearly corrected after a previous surge, opening lower in the morning and continuing to decline. By the close, they were down over 12% and 13%, respectively. In terms of news, on February 21, KNOWLEDGE ATLAS issued an apology letter regarding the GLM Coding Plan and announced handling and compensation plans. KNOWLEDGE ATLAS stated that this revision mainly made three mistakes: insufficient transparency of rules, the latest large model GLM-5's gray release pace was too slow, and the upgrade mechanism design for old users was rough. The announcement explained that after the release of GLM-5, traffic exceeded expectations, and the company's expansion pace could not keep up, forcing them to gradually open GLM-5 in the order of Max, Pro, and Lite. Currently, Max users have been fully opened, Pro users have been opened but may encounter throttling during peak times due to high cluster load, and Lite users will gradually be opened in a gray release manner during non-peak periods after the holiday. The company supports self-application for refunds for affected Lite and Pro users ### Related Stocks - [02513.HK - KNOWLEDGE ATLAS](https://longbridge.com/en/quote/02513.HK.md) - [02899.HK - ZIJIN MINING](https://longbridge.com/en/quote/02899.HK.md) - [03690.HK - MEITUAN](https://longbridge.com/en/quote/03690.HK.md) - [MPNGY.US - Meituan](https://longbridge.com/en/quote/MPNGY.US.md) - [00981.HK - SMIC](https://longbridge.com/en/quote/00981.HK.md) - [STECH.HK - Hang Seng TECH Index](https://longbridge.com/en/quote/STECH.HK.md) - [601899.CN - Zijin Mining](https://longbridge.com/en/quote/601899.CN.md) - [688981.CN - SMIC](https://longbridge.com/en/quote/688981.CN.md) - [SOXX.US - iShares Semiconductor ETF](https://longbridge.com/en/quote/SOXX.US.md) - [159516.CN - Guotai CSI Semiconductor Material Equipment Theme ETF](https://longbridge.com/en/quote/159516.CN.md) ## Related News & Research | Title | Description | URL | |-------|-------------|-----| | 智谱发布 GLM-5 技术细节：工程级智能，适配国产算力 | 对中国来说，GLM-5 更像是一次宣告：我们不仅能做大模型，也能做自己的算力适配，还能把两者打通。 | [Link](https://longbridge.com/en/news/276533880.md) | | 无视海外 “AI 恐慌”，中国市场狂炒 AI 赢家 | 同一个 AI，截然相反的命运。美国市场陷入” 恐慌性抛售”，中国投资者疯狂追捧：智谱 AI 一度暴涨 524%，MiniMax 一度飙升 488%。分歧本质是美国投资者焦虑于丰厚利润池面临竞争威胁，而中国关注的仍是市场渗透。 | [Link](https://longbridge.com/en/news/276531940.md) | | 股价狂飙四倍后，SK 海力士承诺继续扩大 AI 芯片产能 | 在股价过去一年飙升逾四倍、创下盈利纪录之际，SK 集团董事长崔泰源承诺大幅扩产 HBM“怪兽芯片”，以应对全球 AI 基础设施建设引发的供应短缺。受益于英伟达等客户的强劲需求，SK 海力士 2026 年产能已售罄，盈利预期最高调升至千亿美元 | [Link](https://longbridge.com/en/news/276582791.md) | | 读懂金银铜：培风客陈大鹏带你理解全球秩序重构下的资源品定价新机遇 | 3 月 15 日，原紫金矿业投资经理陈大鹏带你拆解全球金属定价新范式 | [Link](https://longbridge.com/en/news/276523437.md) | | 港股异动：智谱股价暴跌 17.24%，新模型发布后管理问题引发市场担忧 | 智谱跌 17.24%；MINIMAX-WP 跌 10.52%，成交额达到 8.98 亿港币；海致科技集团跌 10.58%，成交额达到 3.1 亿港币；滴普科技跌 4.97%，成交额达到 9.64 百万港币；出门问问涨 3.08%，市值达到 | [Link](https://longbridge.com/en/news/276554307.md) | --- > **Disclaimer**: This article is for reference only and does not constitute any investment advice.